The Daiwa Securities Group Inc. Has $451,000 Position in SBA Communications Co. (SBAC)

The Daiwa Securities Group Inc. Has $451,000 Position in SBA Communications Co. (SBAC)

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brookfield Asset Management Inc. raised its stake in shares of SBA Communications by 74.3% in the third quarter. Brookfield Asset Management Inc. now owns 2,907,940 shares of the technology company’s stock valued at $326,155,000 after buying an additional 1,239,958 shares in the last quarter. American Century Companies Inc. increased its stake in shares of SBA Communications by 30.0% in the first quarter. American Century Companies Inc. now owns 1,578,092 shares of the technology company’s stock valued at $189,955,000 after buying an additional 363,969 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of SBA Communications by 68.8% in the first quarter. Wells Fargo & Company MN now owns 1,268,805 shares of the technology company’s stock valued at $152,725,000 after buying an additional 516,954 shares during the last quarter. FIL Ltd increased its stake in shares of SBA Communications by 4.5% in the fourth quarter. FIL Ltd now owns 914,969 shares of the technology company’s stock valued at $94,479,000 after buying an additional 39,427 shares during the last quarter. Finally, Triple Frond Partners LLC increased its stake in shares of SBA Communications by 37.4% in the fourth quarter. Triple Frond Partners LLC now owns 824,676 shares of the technology company’s stock valued at $85,156,000 after buying an additional 224,676 shares during the last quarter. 95.31% of the stock is owned by institutional investors.

Daiwa Securities Group Inc. increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,750 shares of the technology company’s stock after buying an additional 300 shares during the period. Daiwa Securities Group Inc.’s holdings in SBA Communications were worth $451,000 as of its most recent SEC filing.

SBA Communications Co. (SBAC) opened at 138.69 on Monday. The firm’s 50-day moving average price is $130.02 and its 200 day moving average price is $113.83. SBA Communications Co. has a 12-month low of $95.66 and a 12-month high of $140.38. The stock has a market cap of $16.82 billion, a PE ratio of 287.74 and a beta of 0.72.

A number of brokerages recently commented on SBAC. Jefferies Group LLC upped their target price on SBA Communications from $133.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Stifel Nicolaus set a $148.00 price objective on SBA Communications and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Guggenheim upgraded SBA Communications from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $118.00 to $137.00 in a report on Monday, April 10th. Deutsche Bank AG reiterated a “hold” rating and issued a $133.00 price objective (up previously from $121.00) on shares of SBA Communications in a report on Saturday, April 22nd. Finally, Macquarie reissued a “hold” rating and issued a $107.00 target price on shares of SBA Communications in a research note on Sunday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. SBA Communications has a consensus rating of “Buy” and a consensus price target of $133.93. In other SBA Communications news, EVP Mark R. Ciarfella sold 15,147 shares of SBA Communications stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $129.03, for a total value of $1,954,417.41. Following the sale, the executive vice president now owns 14,677 shares of the company’s stock, valued at approximately $1,893,773.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin L. Beebe sold 570 shares of SBA Communications stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $118.12, for a total value of $67,328.40. Following the completion of the sale, the director now directly owns 9,097 shares in the company, valued at approximately $1,074,537.64. The disclosure for this sale can be found here. Insiders sold a total of 162,411 shares of company stock worth $21,764,557 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

SBA Communications Company Profile SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SBAC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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